I like this report...good for one and all!

That’s close to doubling in size in 5 short years!

[B]Offshore Drilling Market Worth $121.1 Billion by 2018[/B]

By MarEx July 01, 2013

The Report “Offshore Drilling Market By Services (Contract Drilling, Directional Drilling, Logging While Drilling), Applications (Shallow Water, Deepwater, Ultra deepwater) & Geography - Global Trends & Forecasts to 2018”, defines and segments the global offshore drilling services market with an analysis and forecast of the global revenue. Offshore drilling services market will grow from an estimated $73.1 billion in 2013 to $121.1 billion by 2018, growing at a CAGR of 10.6% from 2013 to 2018.

The offshore drilling services market is driven by increasing offshore discoveries and exponentially increasing demand for energy across the globe. The major existing areas of offshore activities such as the golden triangle which includes Brazil, US Gulf of Mexico, and West Africa are the key markets where offshore operators and service providers have their focus. Asia-Pacific is the emerging market in terms of demand for energy and offshore drilling activities.

The re-development of current fields and exploring deep to ultra-deep water reserve potentials is the only way to satisfy the demand for hydrocarbons. Hence offshore oilfield drilling service and operators continue to try and assimilate their existing technologies, and develop new technologies extensively through research and development, so as to decrease high risk and associated cost.

In the current Offshore Drilling Global Market, shallow water activities dominate offshore spending and are projected to grow at a significant rate in the near future. On the other hand, deepwater and ultra-deepwater activities are also projected to increase, escalating the requirement for semisubmersibles and drill ships in offshore applications.

The Offshore Drilling Market is on its growth path after the downturn of the 2010 oil spill in the US Gulf of Mexico; the investments are made by the services as well as by operator companies to scrutinize greater exposure for the crude. This market is highly competitive, and hence secures long term contract agreements. Increasing the working fleet is a key strategy for the offshore drilling service providers.

and this news released the same day

[B]Samsung Heavy Wins $718M Order for Semi-Submersible Rig[/B]

By MarEx July 01, 2013

Samsung Heavy Industries Co Ltd said on Monday it won a 825.5 billion won ($718 million) order to build a semi-submersible rig from Sweden’s Stena Group.

The South Korean shipbuilder said in a statement the rig is slated to be delivered by the first half of 2016.

Reporting by Joyce Lee; Editing by Edwina Gibbs © Reuters 2013.

That’s alot of money for a semi…must be one very fancy one but that is no surprise for the European drilling companies.

[QUOTE=c.captain;113871]and this news released the same day

That’s alot of money for a semi…must be one very fancy one but that is no surprise for the European drilling companies.[/QUOTE]

With Stena I’d guess it’s a harsh enviorment rig. And if so- it’s targeted at that ever increasing envelope of drilling contracts in Ice Laden areas. I’d expect Day rates upon on contracting in the $700’s /day + it’s a good investment. Although truth be told i’m much more of a Drillship guy.